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February 25, 2019 by Samantha K. Chow

Have you ever, as a life insurance carrier, agency/agent, brokerage firm/broker, or technology vendor, gone onto Twitter or other social media and searched “life insurance + fraud”? It is amazing how many consumers are out there posting that life insurers have done them wrong or warning other consumers not to purchase a life insurance policy.

The types of tweets that you find on Twitter are a lot like the following:

February 14, 2019 by Shirley W. Inscoe

In recent years, application fraud has become a major problem for U.S. financial institutions (FIs). In 2017, Aite Group recognized application fraud as the second-greatest challenge FIs face in combatting fraud, trailing only account takeover fraud; this trend continues today. By 2020, application fraud losses related to demand deposit accounts (DDAs) are projected to exceed US$636 million, a costly problem indeed.

February 12, 2019 by Alissa Knight

It was 2010 when John Kindervag, then an analyst with Forrester Research, first wrote about the idea of a zero-trust security framework in which the idea of a network edge or perimeter was no longer the front lines of the cyber battlefield for an organization.

February 12, 2019 by Inci Kaya

In 2018, hospitals incurred US$42 billion in uncollected debt from patients, an estimated 6% of their revenue. This not only threatens their financial solvency but also signals a dire need for solutions that alleviate the scourge of revenue cycle management and collections. Help is on the way if revenue cycle executives look hard enough, as Aite Group estimates that US$14 billion of these uncollected receivables can be collected. Hospitals just need to be open to consumer-friendly payment products and financing options that create a pathway to collect. However, early attempts to bridge that gap have fallen short of the mark due to inertia as well as healthcare providers’ and hospital revenue cycle managers’ unease of engaging with external partners.

January 22, 2019 by Alissa Knight

The increasingly complex regulatory environment, along with ongoing technological gains largely propelled by the new emerging industry of fintech, have transformed the very nature of financial fraud and given rise to a new breed of adversary more technologically advanced than in decades past. Over the past two decades, the chief risk officer (CRO) and chief information security officer (CISO) fought different foes on disparate fronts. However, the change in adversarial motives in the cybercrime epoch while still harboring the same anomie has evolved from website defacements over the last 20 years to a US$1.5 trillion global shadow economy equal to the gross domestic product (GDP) of Russia that trades in data as the new commodity—now more valuable than oil.

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